Offshore wind farms may not be the first image associated with the Queen’s property portfolio, but they are considered one of the Crown Estate’s biggest drivers of profit. Since 2004 the body that manages the Queen’s property has owned all the rights to renewable energy generated from a 12-mile band of continental shelf surrounding the country. The Crown Estate’s 29 offshore wind farms hold more wind turbines than the rest of the world put together and generate 5 per cent of Britain’s electricity. The £22.9 million generated over the past year contributed to a record annual return of £304.1 million for the Crown Estate and a 12.2 per cent rise in the value of its portfolio to £12.9 billion. All profits made by the business go directly to the Treasury, which then redistributes 15 per cent to the Queen; this goes towards supporting her official duties a nd is known as the Sovereign Grant. Over the past decade, the Crown Estate has paid more than £2.4 billion to the Treasury.
Times 28th June 2016 read more »